Any news on proposed theme park for Hawaii?

About a year or two ago I saw an article somewhere about a theme park planned for Hawaii. Is that park dead? Can Hawaii with it's tourisn and near perfect year round climate support a small regional theme park about the size of Holiday World, Valleyfair, Indiana Beach, Americana or Knoebel. I think the market would be too small for a 200-500+ acre park but I was thinking of a park which the largest coaster would be 150'-180' tall (a woodie) and maybe a small inverted or an invertego would work as the main rides.
Well, there isn't much need for coasters if you can attain bigger thrills surfing.

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